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Jun 23, 2013
06/13
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we have lot was federal entities telling us that stimulus and it makes the economy groechlt they say we are safer here. i continuing is an embarrassment and sends a message around the worl that the champion of liberty is move nothing the wrong direction and a bad step for the united states. >> steve, isn't there a dger of sitting back and letting the government decide >> one of the legitimate functions of government is protectings from external enemies and e constitutiowas written by framers who unrstood that governments that protect you can abuse you. take it out on the government. rich hit on something. if the company has in writing certain ord or request and the statute is cited, the company is obligged to do it. if you don't like the law change the law. >> we want to stop thead guy companies can stop the government saying we are getting a ton of lawsuits on our doorsteps and in india, they are allowing tax officials with access to google d facebook data. >> the irs is different. >> india is pressuring to have government officials on-site at research in motion. >> by the way, hold
we have lot was federal entities telling us that stimulus and it makes the economy groechlt they say we are safer here. i continuing is an embarrassment and sends a message around the worl that the champion of liberty is move nothing the wrong direction and a bad step for the united states. >> steve, isn't there a dger of sitting back and letting the government decide >> one of the legitimate functions of government is protectings from external enemies and e constitutiowas written...
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Jun 16, 2013
06/13
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andn a good economy, it helps us get a job. the's a reason that tuition continues to ris parents and kidsee there's a real value to having a degree by your name. i think we've got to recognize it's not the education. we get something entirely different of vlue from going to college. >> mike, there's another reason why collegeuition is going up, and that's the government, right? >> well, that's ght. first of all, it sound like john and i shared the same type of college experience. but yes, you'rebsolutely rig. the reason why fewer graduates are earning a return onheir investment or their parents' investment is because government subsidies have raised the tuition of college. and at the same time, david, this is the worst economic recovery we've had snce the depression. so it's haer to earn that return. >> but steve forbes, even if a down economy, and we a growin at anemic rates, the mart still provides some answers, doesn't it? >> it does, david. and what we have here says more about our dysfunctional government than it does abou
andn a good economy, it helps us get a job. the's a reason that tuition continues to ris parents and kidsee there's a real value to having a degree by your name. i think we've got to recognize it's not the education. we get something entirely different of vlue from going to college. >> mike, there's another reason why collegeuition is going up, and that's the government, right? >> well, that's ght. first of all, it sound like john and i shared the same type of college experience....
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Jun 16, 2013
06/13
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. >> yeah, i think this is ver good for the economy. i think this is reflecting the fact thatore employed amerins are feelin confident about jobptions and we're starting to see that mobility take shape. i think this is also being seen in our current unemployment re. it's ticked up to 7.6% last month. and that's because more americans are feeling confident to go back into the jobs market fter recor numbers dropped out. i also think it's goodecause we'reing unemployed, the long-term unemployed number. people unemoyed six mths or longer, that number's dropped by about a million as well. >> steve, pe aren't feeling good about the economy. only 18% tnk it's doing well. 82% think it is fair or poorer. >> that's right. and pick your number, david. the fact of the matter is, this is a sloppy labor market, sloppy economic recovery. it's like a baseball player hitting .250. some games he'll look like he's babruth. others like he couldn't get beyond t-ball and little league. a very sluggish economy. >> rick, you have to use a baseball analogy. goo
. >> yeah, i think this is ver good for the economy. i think this is reflecting the fact thatore employed amerins are feelin confident about jobptions and we're starting to see that mobility take shape. i think this is also being seen in our current unemployment re. it's ticked up to 7.6% last month. and that's because more americans are feeling confident to go back into the jobs market fter recor numbers dropped out. i also think it's goodecause we'reing unemployed, the long-term...
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Jun 19, 2013
06/13
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overall it has been down, they are cost-cutting it ll help the bottom line, economy showing some life. if you have been o a plane they ar jam-packed. neil: how can that be pleasant? jared, i know you don't kno what commercial flying is, but how can it be pleasant? >> i am just not, i am a new pilot. i fly privately. neil: listen to you. >> no, no, i wish i could live the life capin of a major airline 30 years a. you getn plane now, it is like a cattle ride, we have gotten okay with that, but i don't think that buying an airline is a gd investment, they are bound by the price of oil, the areutting costs yes, they are making planes more fuel efficient, but again this is predicattd onil and communication tha changes. neil:ut, do you buy that ople are happier with this experice, i do not. >> no. neil: ink they are interviewing zombies. >> thelane is full. neil: you could have a blaine full of zombies. >> no matter wat you carry, buy the stock, demand it there. >> okay. >> housing starts? you have who to wonder -- you have to wonder with latest housing data. they a still up, 7 7% over last
overall it has been down, they are cost-cutting it ll help the bottom line, economy showing some life. if you have been o a plane they ar jam-packed. neil: how can that be pleasant? jared, i know you don't kno what commercial flying is, but how can it be pleasant? >> i am just not, i am a new pilot. i fly privately. neil: listen to you. >> no, no, i wish i could live the life capin of a major airline 30 years a. you getn plane now, it is like a cattle ride, we have gotten okay with...
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Jun 16, 2013
06/13
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we have essentially a fascist economy in which big-- i mean jonathan is promoting oh, you've go to get big. well, that's wrong. you've got small. you've got big government, big business and big labor, and they're all in cahoots. and lien, verizondidn't do this on their own. the government leases that line. they provided the financing to verizon. the government and verizon are hand and glove. the government and ge are hand and glove. it's going to control6 of the banking. everybody is too big. and that's what's wrong. we have essentially a fascist econonomy. >> go ahd, jonathan. >> verizon's done nothing. you're all dumping verizon. they've done absutely nothing. and wayne, you want a small phone company? great. put two tin cans together. a schmoll phone company will not be able to serve anyone. >> oh, please, give me a break. you don't know what the hell you're talking about. you're shooting your mouth off about something you do not know. >> hold on. hold on. tracy, jonathan says verizon has donenothing. as far i understand -- >> this blows my mind. this is so not jonathan. what did yo
we have essentially a fascist economy in which big-- i mean jonathan is promoting oh, you've go to get big. well, that's wrong. you've got small. you've got big government, big business and big labor, and they're all in cahoots. and lien, verizondidn't do this on their own. the government leases that line. they provided the financing to verizon. the government and verizon are hand and glove. the government and ge are hand and glove. it's going to control6 of the banking. everybody is too big....
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Jun 17, 2013
06/13
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the rest of the economy, job creators are suffering. david: so far the hangover has not really come on us with all this money printing. the free money. corporations of loved it. the market is doing well. you say if we look back to the 1970's we can see a parallel time or a parallel thing going on. of course that did not have quantitative easing, but they kept interest rates artificially low. >> what happened was in the 1970's, you get an inflationary bubble that it the commodities market, farm land, housing. we forgot we had a housing boom artificially the late 70's and early 80's. so we had to the 80's, farmland collapsed. oil collapsed down to $10 a barrel. so i think what you're going to see here -- i don't know wind. but it now be on the forbes 400 list, but you're going to see is these things will burst. what the fed has done is like putting a virus and a computer, correcting the price information in the marketplace. was the real value of oil, farm land? you don't know. david: when you look back to the 1970's, again, what is scary
the rest of the economy, job creators are suffering. david: so far the hangover has not really come on us with all this money printing. the free money. corporations of loved it. the market is doing well. you say if we look back to the 1970's we can see a parallel time or a parallel thing going on. of course that did not have quantitative easing, but they kept interest rates artificially low. >> what happened was in the 1970's, you get an inflationary bubble that it the commodities market,...
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Jun 22, 2013
06/13
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hurting the economy more than it has helped. editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the rates are moving higher, so that will be problematic. your thoughts on the timing on all of thisy the fed chairman. >> three years late, better late than never, what ben bernanke has done inadvertently this make it easier for the vernment to deficit spending, get back on their feet, issue newonds but for the rest of the economy, smaller businesses like with what they said in russia, health care is free but you can't get any. they a thehe job creators, they are hurt by what bernanke did. not much left for the small guys. lou: a lot of lilimited government, some of them are anti-fed. oh, my gosh, we cannot conclude it a $5 billion per month. i do not like what he has done, bbt don't let him reverse course here. there is a chorus of hypocrisy in pleading for more punch bowl, please. >> it is hard to give up when you have it. bernanke will not do this precipitously, wil
hurting the economy more than it has helped. editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the rates are moving higher, so that will be problematic. your thoughts on the timing on all of thisy the fed chairman. >> three years late, better late than never, what ben bernanke has done inadvertently this make it easier for the vernment to deficit spending, get back on their feet, issue newonds but for the rest of the...
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Jun 20, 2013
06/13
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growing more than 20% that is more than double the rate of the economy. so the decision not to inject more cash basically tells the market that liquidity will be tightened to slow down credit growth. patrick at silver crest asset management a long time china watcher says the impact will be serious. he says in a statement to fox business. if the bank of china injections emergency cash into the banking system the next day or so, wealth management products that lent money to banks in the interbank market will start to see massive defaults. he also tells me that he thinks that this will, this will not last for very long but in the end they will see the defaults start happening and chinese government will inject. but they could fix all this by pumping money into the system that would reinforce the runaway credit issue we were talk about earlier. if they pump more money in they risk creating a bigger burden of bad debt. basically the take home.this is self-inflicted. it's a state controlled crisis. it's a risky move for an economy that is already shrinking but
growing more than 20% that is more than double the rate of the economy. so the decision not to inject more cash basically tells the market that liquidity will be tightened to slow down credit growth. patrick at silver crest asset management a long time china watcher says the impact will be serious. he says in a statement to fox business. if the bank of china injections emergency cash into the banking system the next day or so, wealth management products that lent money to banks in the interbank...
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Jun 15, 2013
06/13
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the can only adversely affect the economy and thh supply of credit. lou: what is low volume this week? you interpret the reason ffor th for the upcomin meeting and all of the query that we no can presume and one other factor? like it is bein held in this area. >> perhaps it is not a bad idea that to the sideline and have someone take a chance. lou: one of my favorite gurus out there right now -- theycome up with more nonsense. they are pushing a 30 year bull market in bonds sraight in to what they are trying to lift it with all forces, talking about % chance of a recession in the next three to five years. what is going on in the minds of these folks. what are they pushing? i know that they are pushing this a bit. but what in the world is going on with the business that they are even paying attentionthis? >> there is a 60% chance of a recession. in three to fiveears, we are going to fort about this. >> this is all that is going on. other people are talking about the forthcoming 10 year treasury bond, which think is unlikely anytime soon. lou: are the h
the can only adversely affect the economy and thh supply of credit. lou: what is low volume this week? you interpret the reason ffor th for the upcomin meeting and all of the query that we no can presume and one other factor? like it is bein held in this area. >> perhaps it is not a bad idea that to the sideline and have someone take a chance. lou: one of my favorite gurus out there right now -- theycome up with more nonsense. they are pushing a 30 year bull market in bonds sraight in to...
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Jun 16, 2013
06/13
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have essentially a fascist economy. >> go ahead, jonathan. >> verizon's donenothing. y nothing. dumping on verizon. and wayne, you want amall phone company? great. ut two tin cans together. a schmoll phone company will not be able to serve anyone. >> oh, plse, give me a break. you don't know what the hell you're talking about. you're shooting you moh off about something you do not know. >> hold n. hold on. tracy, jonathan says verizon has done nothing. as far as i uderstand -- >> this blowsy mind. this is so not jonathan. what did you have in your cheerios this rning, jonathan? this is so not you! come on, now! this is snooping. this is the kind of stuff that people like you are supposed to hate. you want to gather intelligence, tell me. eric is right. i shoulhave signed the dotted line that said hey, you'll be protected. we've got this cable going from new jersey to virginia. >> let me read this to you. i've got to do this. i cay this in m pocket every single day. it'snot aprop. it's the u.s. constitution, fourth amendment. 1 1791, the right of the people to be secure in thehei
have essentially a fascist economy. >> go ahead, jonathan. >> verizon's donenothing. y nothing. dumping on verizon. and wayne, you want amall phone company? great. ut two tin cans together. a schmoll phone company will not be able to serve anyone. >> oh, plse, give me a break. you don't know what the hell you're talking about. you're shooting you moh off about something you do not know. >> hold n. hold on. tracy, jonathan says verizon has done nothing. as far as i...
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Jun 18, 2013
06/13
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the economy is going great guns or not great guns but it's doing fine. we're really able to pull back, wouldn't that make you change your allocation as little bit, edward? >> well, it is funny, dave. if you look at the fed fund rate, the futures, the market is already pricing in some sort of a tightening in the summer of 2014. if you look back two months, no one was even thinking about the fact that the fed would tighten. and now with the fed fund rate you're starting to see some tightening being priced into the market. i think a lot of heavy lifting and the fact the yields on bonds backed up 50 basis points already in six weeks, a lot of the expectations of this taper having already been priced in. that's why i think a lot of this fear is somewhat misguided. liz: let's go back to larry because we know the pits, i was joking with doreen mogavera at the new york stock exchange, are you going to put on your football pads for all the action tomorrow. but what is it you expect? if we know there is not any move and they will not tighten rates for sure, 99.9%
the economy is going great guns or not great guns but it's doing fine. we're really able to pull back, wouldn't that make you change your allocation as little bit, edward? >> well, it is funny, dave. if you look at the fed fund rate, the futures, the market is already pricing in some sort of a tightening in the summer of 2014. if you look back two months, no one was even thinking about the fact that the fed would tighten. and now with the fed fund rate you're starting to see some...
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Jun 19, 2013
06/13
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how good is the economy generally? fedex earnings tell you. they're telling us that business is pretty good. so, nicole, what's happened to fedex stock in the early going? >> what we're seeing is the stock is up 1.7%, and international package volume is lower, and they face intense competition, they said that the folks were switching from the more expensive price here, premium package sending to lower cost options and the stock is up 1 1/2%. so, i don't know, enlighten me. and what is the good news here? it didn't seem like good news to me, or at least not yet. >> i'll give you good news from an investor point of view. >> what more do you want, young lady? okay. i checked the dow, as we suggested, flat to slightly lower, and 15 seconds of business. two other stocks that we're watching, tesla, they recalled 800 of their model s electric cars, there's a problem with the mounting bracket in the back seat. it's dead flat this morning and then dreamworks animation, they put the shrek franchise and more on netflix and make an animated series for net
how good is the economy generally? fedex earnings tell you. they're telling us that business is pretty good. so, nicole, what's happened to fedex stock in the early going? >> what we're seeing is the stock is up 1.7%, and international package volume is lower, and they face intense competition, they said that the folks were switching from the more expensive price here, premium package sending to lower cost options and the stock is up 1 1/2%. so, i don't know, enlighten me. and what is the...
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Jun 19, 2013
06/13
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if the economy continues to improve as it has, no one seems to like what bernanke said except the shorts. the dow jones industrials experiencing its seventh straight triple digit move. its ninth 200-. swing in the last 20 days. today falling 206 points. the s&p lost 23, the nasdaq down 40 call volume on the big board picking up to three and a half billion shares a day. gold up $7, closing at $1,374 per ounce. crude oil down $0.20 settling at $98.24 per barrel. in the bond market the yield on the 10-year is soaring to over two and a half%, the highest since march of last year. stocks, bonds to our crude oil all down. gold up a little. quite a day, quite a reaction. here tomorrow, house judiciary committee member joins us. we will discuss whether the attorney general should be charged with perjury. up next, the cbo scores the gang of eight immigration bill, pulling up some interesting numbers. some of which a gang of eight won't be talking about. but we will end the "chalk talk" next. stay with us. ♪ if you've got it, you know how hard it can be to brthe and man, you know how that feels.
if the economy continues to improve as it has, no one seems to like what bernanke said except the shorts. the dow jones industrials experiencing its seventh straight triple digit move. its ninth 200-. swing in the last 20 days. today falling 206 points. the s&p lost 23, the nasdaq down 40 call volume on the big board picking up to three and a half billion shares a day. gold up $7, closing at $1,374 per ounce. crude oil down $0.20 settling at $98.24 per barrel. in the bond market the yield...
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Jun 18, 2013
06/13
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the economy's not what we're thinking here? >> the apartment story is people move out of their parents' houses, move into apartments, stepping into the living independently life, home buyers that are representing or buy, and people want more space. vacancy level apartments is less than 5%. you can see that in forever. cheryl: that is an astonishing number. you look at regions, and i want to get to this because of the south led the way of 17%. was that on the commercial real estate side or residential side? >> commercial real estate. florida's back. listen, we have have an added supply in forever in apartments in hotels, and wear houses and retail so real estate's back, the demand's there, and the interesting thing is while interest rates are growing that could chill the market, if they go up because the fed decides to taper or reverse course it's because the economy is strong, and when that's strong, it's great to rent. >> you say it's strong, and that's an alternative investment, kind of out of the will house a bit, but we kee
the economy's not what we're thinking here? >> the apartment story is people move out of their parents' houses, move into apartments, stepping into the living independently life, home buyers that are representing or buy, and people want more space. vacancy level apartments is less than 5%. you can see that in forever. cheryl: that is an astonishing number. you look at regions, and i want to get to this because of the south led the way of 17%. was that on the commercial real estate side or...
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Jun 21, 2013
06/13
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that's only in the economy meets their expectations. i think -- adam: that's a big if. >> it is a big if, yes, exactly but i do think we're seeing the early signs that the economy will perform significantly better in the second half of the year than it has to date in the first half of the year but i think that, when you look at the fed, you know, in my scenario, they're really only halfway through this purchase program. by the end of jean they will have purchased 670 billion in securities. and they will have purchased about another 660 billion over the next year. so, i think the market reaction has been exacerbated by a couple of things. one of them being the proximity to quarter end which forces people to make position adjustments they may not want to otherwise and also just based on the ferocity of the price action in the bond market i think that a lot of leveraged positions had to be reversed as well. ashley: ward, what about deflation? no one is really talking about it. they were for a while but if you look at some of the, get into
that's only in the economy meets their expectations. i think -- adam: that's a big if. >> it is a big if, yes, exactly but i do think we're seeing the early signs that the economy will perform significantly better in the second half of the year than it has to date in the first half of the year but i think that, when you look at the fed, you know, in my scenario, they're really only halfway through this purchase program. by the end of jean they will have purchased 670 billion in...
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Jun 18, 2013
06/13
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economy. as the u.s. manufacturing renaissance comes back in the second half of the year. we do anticipate a very strong cap-ex recovery which will clearly benefit industrials in particular. ashley: quickly, we're almost out of time, brian. we think the next leg up requires some sort of unwind in the bond market. we're not seeing money pour out of bond market, are we? >> no. in fact we still see bond inflows. we don't see any major great rotation out of bonds until we see several months of bond fund losses. that will be a 2014 event. ashley: very good. -pbrian belski of bmo capital markets. thanks very much for joining us. >> thanks for having us. ashley: don't forget fox business is the place to be for full coverage and analysis of the fed decision or fred decision and economic projections at 2:00 p.m. eastern tomorrow. we'll also bring you federal reserve chairman ben bernanke's news conference. that should be interesting beginning at 2:30 p.m. eastern time. you can't afford to miss it. certainly the markets are paying a lot of attention as we all are. tracy: one of the
economy. as the u.s. manufacturing renaissance comes back in the second half of the year. we do anticipate a very strong cap-ex recovery which will clearly benefit industrials in particular. ashley: quickly, we're almost out of time, brian. we think the next leg up requires some sort of unwind in the bond market. we're not seeing money pour out of bond market, are we? >> no. in fact we still see bond inflows. we don't see any major great rotation out of bonds until we see several months...